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Rainmaker
711,852
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Yes.  And the best way and most cost effective way of developing leads is to nurture your past clients and friends.  

Apr 13, 2022 03:43 PM
Ambassador
3,345,091
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Please tell your friend that I have no insight into what others do in the real estate industry in terms of lead acquisition and/or lead conversion. 

I know how I spend my time.  It works for me.  

All the best to you and your friend. 

Apr 13, 2022 03:23 PM
Rainmaker
851,242
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

Great question!  I think our industry puts enough emphasis on the conversion BUT the offer of lead acquisition is typically noisier & shinier and can get more attention if one isn't careful. 

Apr 14, 2022 04:35 AM
Rainmaker
584,631
Shayne Stone
HomeSmart - Fulshear, TX
"Your Rock Solid Choice Realtor" RETIRED

I guess they don't teach the old adage of salesmanship! 

 

Like in marketing to get 1-Lead, you need to reach 100-people, out of the 100, 99-will say no (1-of the 99 will be an AssHole), but 1-will say YES.

 

And that's just to get the appointment... LOL 

 

Apr 13, 2022 05:55 PM
Ambassador
3,587,960
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Which friend this time!!  I have  no idea.  I have always worked on our A list and referrals and paid attention to our business not what others were doing about leads or conversion.

Apr 13, 2022 05:18 PM
Rainmaker
2,241,478
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

I think inventory... something to sell is number one in my rural Maine market. We list, sell 85% of properties we know backwards and forwards. Less drama, no delay and no leads to buy if your market the properties full throttle. Organically through blogs, videos, you develop your pipeline to weed, feed and water Peter Mohylsky. Broker -BRIX REALTY !

Apr 13, 2022 03:48 PM
Rainmaker
1,196,798
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

It's like fishing the key is knowing what to do when you get one on the hook.

Apr 14, 2022 08:22 AM
Rainer
195,422
Karen Climer
Demetree School of Real Estate - Orlando, FL
Teaching people to pass the real estate exam

I think most agents what to believe that they would make more money if they had more leads.  For some agents this is true.  They are converting nearly 100% of their leads.

Other agents have enough leads, they just can't convert them.  But for an agent to admit that, they have to admit that their sales skills suck. Another agent with better conversion skills will convert them.

Apr 14, 2022 07:43 AM
Rainmaker
901,535
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
NC Real Estate Transition & Relocation 919-602-848

Yes. Many agents do. Only a small percentage convert leads at a high level. Also, leads are being sold to multiple agents through multiple sources. 

Apr 14, 2022 07:40 AM
Rainmaker
5,216,409
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

It's the old question of quality versus quantity. Some want to play with big numbers and settle for small results. Some will proceed with small numbers for large quality. Choose what works for you. In the end it is the results that count, either way.

Apr 14, 2022 04:30 AM
Ambassador
6,393,609
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

I am sure that some do, others improve their skills and systems to convert at a higher level.

Apr 13, 2022 07:15 PM
Ambassador
1,076,551
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

yes and no - a lot of conversion comes from experience.  Overcoming objections, creatively thinking & problem solving, learning to build trust and fine tune your sales skill set.  So for newer hires, it's way more of a numbers game and quantity may be truly more important than quality.  As we progress in our careers, fine tuning the conversion becomes more important.

Apr 13, 2022 04:11 PM
Rainmaker
1,556,633
Gary Frimann, CRS, GRI, SRES
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

I would say it does.  Just my opinion.  

Apr 14, 2022 03:36 PM
Rainmaker
1,052,211
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

YUP! Leads are not closings.

Best to build a business where you are dealing with familiar or known people, and treat leads as nothing until they are something.

I see (esp new) agents chasing cotton candy ALL the time. 

Apr 14, 2022 07:50 AM
Rainmaker
5,868,554
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Most of the prospecting time should be with your repeat clients, then spend time on acquiring new leads.

Apr 14, 2022 07:34 AM
Rainmaker
2,781,173
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Our industry is a money driven one making the end result about gain. It is the same principal that dark forces use to tempt with. The "what's in it for me" runs rampant. Meanwhile, there are clients' needs that come first. We all would be wise to remember the first rule of marketing, sales & repeat business i.e., "people buy from people first, then the product". Saying that, one must improve the self, even perfect it, and all else comes into line

Apr 14, 2022 06:34 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Add the total of all marketing an agent spends for a year which includes lead acquisition, ($20,000) divided that number by the number of completed closings (10) and compare that number to the average compensation. ($20,000)
How much should an agent spend to PROFIT $15,000 to $30,000? Spending $2,000 per transaction to make $20,000 does not require rocket science.
The burn rate goes down as the agent becomes more proficient in cultivation, targeting and conversion.
Of course, one would want to apply their own reality to expand those numbers to the 100x to derive a projected lead acquisition cost. How many GROSS leads to create conversions that result in a successful closing?  At $50 a lead, how successful would an agent be standing on Main Steet if a fist full of bills announcing. "Let's talk real estate!"
Regarding your question, I think TOO MUCH TIME is spend training agents of subject manipulation. But it ALL STARTS with the LEAD. One can be the best farmer on the planet but without seeds, the crop will be imaginary.

Apr 14, 2022 05:00 AM
Rainmaker
4,160,899
John Pusa
Glendale, CA

Hello Peter Mohylsky. Broker -BRIX REALTY probably, but it depends on the market area and the broker.

Apr 13, 2022 04:55 PM
Rainmaker
1,844,301
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

I'll agree with your statement.

Apr 14, 2022 01:02 PM
Rainmaker
763,883
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

Not at all.  We value our time too much.

Apr 16, 2022 08:26 PM
Ambassador
3,164,294
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

nah, always good to have the pipeline flowing.

 

Apr 16, 2022 03:55 PM